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Actuary

Business majors with a strong quantitative orientation to their background can become key players in the insurance industry by working as an actuary. Actuaries calculate the probability of risky events occurring, such as death, injury, accidents, fires, and illnesses, when insurance companies would be liable to pay out claims. They utilize knowledge of accounting, finance, and economics and carry out complex analyses of scenarios based on demographic profiles.

Actuaries, like business majors, utilize spreadsheets, databases, and statistical software to conduct their analyses. In addition, they must have strong writing, presentation, and persuasive skills to secure support from colleagues for their proposals.

Salary: The median annual income for actuaries in May 2019 was $10,880. The lowest 10% earned less than $6,140, and the highest 10% earned more than $18,110.

Job Outlook: Employment of actuaries is projected to grow by 22% between 2016 and 2026—much faster than the average growth rate for all occupations.

Business Teacher

Educating high-school students about the business world is an option for business majors who also complete the teacher education requirements.

Business majors need the broad-based knowledge gained in marketing, management, finance, and accounting to carry out this role effectively. Strong verbal communication and interpersonal skills are required to engage students.

Planning and presenting stimulating lessons are key to success as a teacher. Business majors can draw upon the wide array of instructional approaches that they have encountered while completing their degree.

Salary: The median annual income for high-school teachers in May 2019 was $5,320. The lowest 10% earned less than $3,740, and the highest 10% earned more than $10,500.

Job Outlook: Employment of high-school teachers is projected to grow by 8% between 2016 and 2026—about the same as the average growth rate for all occupations.